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Search Results 0 to 12 of about 13 (some duplicates have been removed)
and a major increase in government spending came under governor bush and with barack obama. this is not a partisan thing. the federal reserve went out of control. both parties share blame for that. host: u.s. job applications fall. host: that is just not on the associated press wire. in reaction to that -- any reaction to that? guest: we will get a real feel until after the christmas season. it is a sick market right now even out with at some good news recently. we are not creating the number of jobs we need to do. the labor participation rate is at the lowest level since the early 1980's. a lot of people have given up and taken early retirement or applied for disability. the labor market has been shrinking. the number of jobs we have today are still several million lower than they were before the financial crisis. we are like an autumn built on the open highway. we should be going 70 miles per hour in good weather. we're going about 20 miles per hour and going about 15 miles per hour. that is not an encouraging report. 350,000 jobs a month in a good report. we've not been
out in the world though it is hard to find in washington these days. president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both sides have been talking this thing to death. it might need a christmas miracle at this point to avoid going off the cliff. the president scaled back plan basically would extend unemmoment benefits for two million people who will lose them a week after christmas if there is no deal. he also wants to extend tax cuts for 98% of americans. you heard him talk about that again and again. that level of $250,000 or less. the republicans have not afreed to that on the hill obviously. when you talk to folks like senator lindsey graham, they say
they avert the fiscal crisis by getting a deal. president obama spending the christmas holidays in hawaii, but it's not all fun in the sun. still looming as i've just talked about is this large fiscal cliff as the deadline gets closer, and now there are reports surfacing that the president is looking to strike a partial deal that would extend tax cuts for the middle class while holding off on spending cuts. chief white house correspondent ed henry has the luxury of reporting live in honolulu, hawaii. ed it seems for the first time we might really go off the fiscal cliff which is something that you or so many of us in washington never believed would happen. >> reporter: you're right, kelly. i mean for the longest time there was an expectation in both parties there would be a lot of fighting but right up against the christmas holiday they would finally somehow work this out. that is traditionally what happens on capitol hill. this time as you say leaders in both parties now bracing for the real possibility that we will go off that fiscal cliff, and that tax increases will go across the boar
heading back to washington tonight to restart the negotiations on the so-called fiscal cliff. if mr. obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not avoided. >> there is a mismatch right now between how everybody else is thinking about these problems. democrats and republicans, outside of this town and how folks are operating here and we've just got to get that aligned. >> reporter: the president's wife and daughters are going to stay in hawaii to continue vacationing. we're told the president may rejoin them or he may not. it all depends on how negotiations progress in the next few days. gregg: well, you know what, peter? there's not lost love between boe
to the voters that obama's not playing ball. >> trying to explain this to somebody from pluto. say in australia now. saying when congress wrote the cliff, defined it, spend cuts, increases on income, tax increase on state. they wrote it up as this horrible thing that nobody would want to face. either side, right? they designed it that way. now they're walking right over that cliff. over niagra falls. explain. >> it's like congress is on pluto and we're all on earth. they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to
sides do that. president obama has a political capital. it is like money -- how do you spend it? he can spend it on helping our schools. he can spend it with regard to our affairs in the middle east. those are tough questions to answer. my priority is always education and our long term problems. i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs have been skyrocketing. our country's health care cost is rising faster than any other industrial nation. we don't have much coronation. obamacare had to be cobbled together to appease everybody. we have it and we should be focusing on ways to make our health care more efficient and i think we will. these are
in 15 minutes. washington d.c. is where we are going to head next. president obama welcomes congressional leaders at the top of the hour. will come up with something to avoid automatic spending cuts? that go into effect in a couple days? rich edson is in washington d.c. with the latest. rich: it is a last-ditch attempt between top democrat and republican in the house and senate and the obama administration. aids describing a potential path forward, smaller compromise involving an extension of tax rates for income less than $500,000, extended unemployment benefits, measures to assure tens of millions of americans avoid the alternative minimum tax, other items, congress would figure the rest out next year under such a scenario but that is not an official proposal, a deal that aides say could have house and senate if democrat and republican leaders agreed to it. currently there is no agreement, just lawmakers assigning blame. >> millions of americans are out there struggling and certainly they deserve congress that will avoid going over the fiscal cliff. which is why the presid
the record. those $700 billion, and all went to obama care. it was saved as part of a big spending program. here in washington people say cut while things grow. it is like having a freeze that is water and when it freezes, it expands. we have grown 100% in 12 years. the government is bigger and unless we do something now the government will continue to get bigger and the deficit will get bigger, even if we raise taxes on everyone there is still a huge deficit. if we do not take on spending, the fiscal cliff will be a downward slide to make us like greece, no longer a viable economic power. >> that was from the program " state of the union, close with this morning. a number of members of the house are point to try to make their way back for votes this evening at 6:30. the house taking up some 13 bills. here is how david hocking's of "congressional quarterly" termed this house session -- " >> nothing on the fiscal cliff, however. we will keep you posted on that. the senate gaveling out shortly for that caucus meeting in particular. taking a look at your twitter messages,-tag is fiscal cliff.
mcdonnell and john boehner and nancy will sit down with president obama. it's the first time all five are meeting since november. economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago. >> the main sticking point is who should pay more in taxes. democrats want a hike on households making more than $400,000 a year and republican aids say their leaders might get on board with that offer. >>> meanwhile if they aren't able to avoid the fiscal cliff people here in alabama will be especially hard hit. that's because prop 30 will soon mean higher sales taxes and higher income taxes on the state's top earners, the fiscal cliff would add to that hitting all american with
of snow in the northeast and dangerous driving conditions and canceling more flights. >>> president obama cut short his christmas vacation in hawaii to be back in washington today, five days before the fiscal cliff deadline. he's hoping to avert deepening spending cuts and higher taxes. both parties appear to be daring eacher to let the year end without a deal. treasury secretary tim geithner says he will be taking steps tomorrow to prevent the government from hitting its borrowing limit on monday. >>> toyota announced a billion dollar settlement over acceleration problems and will install a brake override system and compensate owners for the alleged reduced value of their cars and trucks. >>> for what's trending today, a quick look at what has you talking online. he's only rock'n roll, but she likes him. actress kate winslet married british tycoon. and singer janet jackson's engagement to her bit of of two years, a businessman, set for a wedding in the spring in qatar. >>> if you shout max in a dog park, the top female and male dog names followed by buddy. and they're in and old classics
sailor to his mom yust in time for christmas. >> president obama drawing strong criticism about the wars in iraq and afghanistan and he said hagel is the wrong man for the job. ♪ ♪ >> clayton: welcome back. lawmakers have eight days left when a series of spending hikes and tax cuts come n you will see a slash of spending of 500 billion dollars over the next 10 years and nine percent in speppeding alone. joining us is ceo of concerned veterans for america and u.s. army veteran himself. pete, nice to see you and merry christmas to you. >> thank you for having me. >> clayton: defense cuts set to take place in the end of the year . president obama knows this and set to expire is the bush era tax cuts . what impact will this have on the military? >> it will have an across the board impactit sequestration is so bad. we'll get across the board training to maintenance and to the next weapon system and on base things provided for families and tri-care. it hits everything. secretary panetta called it a meat axe. our readiness will be stunted by sequestration . it is bad policy. >> clayton: rep
Search Results 0 to 12 of about 13 (some duplicates have been removed)